binanceIndia
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BINANCE INDIA
𝗕𝗶𝗻𝗮𝗻𝗰𝗲 𝘀𝘂𝗽𝗽𝗼𝗿𝘁 𝗰𝗼𝗳𝗶𝗿𝗺 𝘁𝗵𝗮𝘁 𝘁𝗵𝗲𝘀𝗲 𝗱𝗼𝗺𝗮𝗶𝗻𝘀 𝗮𝗿𝗲 𝗹𝗲𝗴𝗶𝘁 𝗳𝗼𝗿 𝗜𝗻𝗱𝗶𝗮𝗻 𝘂𝘀𝗲𝗿𝘀.😊
#BinanceSquareUpdates #binanceIndia
𝗕𝗶𝗻𝗮𝗻𝗰𝗲 𝘀𝘂𝗽𝗽𝗼𝗿𝘁 𝗰𝗼𝗳𝗶𝗿𝗺 𝘁𝗵𝗮𝘁 𝘁𝗵𝗲𝘀𝗲 𝗱𝗼𝗺𝗮𝗶𝗻𝘀 𝗮𝗿𝗲 𝗹𝗲𝗴𝗶𝘁 𝗳𝗼𝗿 𝗜𝗻𝗱𝗶𝗮𝗻 𝘂𝘀𝗲𝗿𝘀.😊
#BinanceSquareUpdates #binanceIndia
For a few months now, there have been rumors that India's finance department will take steps to lower the tax rate on crypto, but nothing has happened.
-India's finance minister, Nirmala Sitharaman, presented the budget without introducing any changes to the controversial tax deducted at source (TDS) policy affecting the crypto industry.
The existing TDS policy includes a 30% tax on profits and a 1% TDS on all crypto transactions.
Despite efforts from the domestic crypto industry and a think tank advocating for a reduction in TDS, no changes were announced in the budget.
- The Indian crypto industry has been urging the government to reduce the 1% TDS since its introduction two years ago.
The TDS policy has led to the movement of many crypto transactions offshore, impacting revenue, and the recent budget did not address the industry's concerns.
SBTC
#Budget2024 #IndiaCrypto #BinanceSqaure #binanceIndia
#Write2Earn
-India's finance minister, Nirmala Sitharaman, presented the budget without introducing any changes to the controversial tax deducted at source (TDS) policy affecting the crypto industry.
The existing TDS policy includes a 30% tax on profits and a 1% TDS on all crypto transactions.
Despite efforts from the domestic crypto industry and a think tank advocating for a reduction in TDS, no changes were announced in the budget.
- The Indian crypto industry has been urging the government to reduce the 1% TDS since its introduction two years ago.
The TDS policy has led to the movement of many crypto transactions offshore, impacting revenue, and the recent budget did not address the industry's concerns.
SBTC
#Budget2024 #IndiaCrypto #BinanceSqaure #binanceIndia
#Write2Earn
Google's Play Store in India has removed Binance and OKX cryptocurrency exchange apps due to a noncompliance notice from the Indian Ministry of Finance.
#binanceIndia #Binancevoting #binancenannindia $BNB
#binanceIndia #Binancevoting #binancenannindia $BNB
Indian Government's Crackdown on #binance and other #cryptoexchange
The Indian government's crackdown on Binance and other foreign cryptocurrency exchanges impacts the crypto market on Binance's trading platform, especially in the Indian context. Here are a few implications:
Market Liquidity: Since Indian exchanges are reported to heavily rely on Binance for liquidity, the government's action to block URLs associated with offshore exchanges like Binance could lead to a liquidity crunch in the local market. This affected trading volumes and market dynamics on Binance's platform, particularly for the Indian user base.
Investor Sentiment: Such regulatory actions will influence investor sentiment, potentially leading to cautious or risk-averse behavior among traders. If Indian users form a significant portion of Binance's user base, this could affect overall trading activity on the platform.
Market Volatility: Regulatory crackdowns often lead to increased market volatility, as traders react to perceived risks and uncertainties. This could be observed in the short-term trading patterns on Binance, especially in cryptocurrencies that are popular among Indian investors.
Geographical Diversification: Binance, like other global crypto exchanges, has a diverse user base spread across various countries. While the Indian market is significant, Binance's global presence might help mitigate the impact of the Indian government's action on its overall trading volume and market health.
Long-Term Effects: The long-term impact on Binance's trading market will depend on how the situation evolves, including potential legal challenges, negotiations between the Indian government and the exchanges, and the broader regulatory environment for cryptocurrencies india #trading #cryptoindia #binanceIndia #pannicseller #indiangoverment
The Indian government's crackdown on Binance and other foreign cryptocurrency exchanges impacts the crypto market on Binance's trading platform, especially in the Indian context. Here are a few implications:
Market Liquidity: Since Indian exchanges are reported to heavily rely on Binance for liquidity, the government's action to block URLs associated with offshore exchanges like Binance could lead to a liquidity crunch in the local market. This affected trading volumes and market dynamics on Binance's platform, particularly for the Indian user base.
Investor Sentiment: Such regulatory actions will influence investor sentiment, potentially leading to cautious or risk-averse behavior among traders. If Indian users form a significant portion of Binance's user base, this could affect overall trading activity on the platform.
Market Volatility: Regulatory crackdowns often lead to increased market volatility, as traders react to perceived risks and uncertainties. This could be observed in the short-term trading patterns on Binance, especially in cryptocurrencies that are popular among Indian investors.
Geographical Diversification: Binance, like other global crypto exchanges, has a diverse user base spread across various countries. While the Indian market is significant, Binance's global presence might help mitigate the impact of the Indian government's action on its overall trading volume and market health.
Long-Term Effects: The long-term impact on Binance's trading market will depend on how the situation evolves, including potential legal challenges, negotiations between the Indian government and the exchanges, and the broader regulatory environment for cryptocurrencies india #trading #cryptoindia #binanceIndia #pannicseller #indiangoverment
BINANCE INDIA
𝗬𝗼𝘂 𝗰𝗮𝗻 𝗨𝗽𝗱𝗮𝘁𝗲 𝗲𝘅𝗶𝘀𝘁𝗶𝗻𝗴 #𝗕𝗶𝗻𝗮𝗻𝗰𝗲 𝗮𝗽𝗽.
𝗪𝗵𝗲𝗻 𝘆𝗼𝘂 𝗰𝗹𝗶𝗰𝗸 𝗨𝗽𝗱𝗮𝘁𝗲 𝗔𝗽𝗽 𝗡𝗼𝘄.
#binance #binanceIndia #BinanceSquareUpdates #binancenews
𝗬𝗼𝘂 𝗰𝗮𝗻 𝗨𝗽𝗱𝗮𝘁𝗲 𝗲𝘅𝗶𝘀𝘁𝗶𝗻𝗴 #𝗕𝗶𝗻𝗮𝗻𝗰𝗲 𝗮𝗽𝗽.
𝗪𝗵𝗲𝗻 𝘆𝗼𝘂 𝗰𝗹𝗶𝗰𝗸 𝗨𝗽𝗱𝗮𝘁𝗲 𝗔𝗽𝗽 𝗡𝗼𝘄.
#binance #binanceIndia #BinanceSquareUpdates #binancenews
India to block Binance, 8 other crypto platforms, slaps notices
New Delhi: India on Thursday slapped show cause notices on nine offshore crypto currency trading platforms including Binance, Kucoin and Huobi and moved to block their web addresses, accusing them of operating illegally in the country.The notices were issued under money laundering laws by Financial Intelligence Unit India (FIU IND), the agency that processes information on dubious financial transactions. These companies, technically called virtual digit asset (VDA) service providers did not comply with the provisions of the anti-money laundering law, the finance ministry said in a late night statement.Queries emailed to Binance, Kucoin and Huobi on Thursday seeking comments remained unanswered.These service providers were brought under the Anti Money Laundering/Counter Financing of Terrorism (AML-CFT) framework under the provisions of the Prevention of Money Laundering Act (PML) Act in March 2023, the ministry said.The notices were issued under a section of the Prevention of Money Laundering Act that authorizes the government to impose a penalty on the entity, its directors or employees or issue a warning or instructions.India is currently undergoing a peer review of its anti-money laundering and counter financing of terrorism framework by the Financial Action Task Force (FATF), a UN body. The review assesses both the technical compliance of its recommendations and the effectiveness of India's anti-money laundering and anti-terror financing framework.Director FIU IND has written to secretary, Ministry of Electronics and Information Technology to block the URLs of these entities allegedly operating illegally without complying with the provisions of the PML Act in India, the statement said.Crypto platforms are required to be registered with FIU IND as reporting entities and comply with certain obligations as mandated law, the ministry said. Regulations cast reporting, record keeping and other obligations on these service providers under the law, the statement said.Till date, 31 VDA service providers have registered with FIU IND. However, several offshore entities though catering to a substantial part of Indian users were not getting registered, the statement said.#IndiaCryptoBan #binanceIndia #marketuptade
Binance official communication on India ban
Dear Binancian,
We are aware of an IP block affecting a number of crypto firms, including Binance. This only impacts users who attempt to access the Indian iOS app store or the Binance website from India. Existing users who already have the Binance app are not affected.
We remain committed to the adherence of local regulations and laws and we are dedicated to maintaining active communication with regulators to ensure user protection and the development of a healthy Web3 industry.
The ongoing situation is not unique to Binance and impacts other web3 industry players as well. We are working hard to engage in constructive policy-making that seeks to benefit every user and all market participants. All user funds are safe.
If you are having trouble accessing your account or need support, you may reach out on https://twitter.com/BinanceHelpDesk. Any changes or updates will be communicated promptly via our official channels.
Thank you
Binance
#BTC #binanceIndia #BinanceSquare #SAFU🙏
Dear Binancian,
We are aware of an IP block affecting a number of crypto firms, including Binance. This only impacts users who attempt to access the Indian iOS app store or the Binance website from India. Existing users who already have the Binance app are not affected.
We remain committed to the adherence of local regulations and laws and we are dedicated to maintaining active communication with regulators to ensure user protection and the development of a healthy Web3 industry.
The ongoing situation is not unique to Binance and impacts other web3 industry players as well. We are working hard to engage in constructive policy-making that seeks to benefit every user and all market participants. All user funds are safe.
If you are having trouble accessing your account or need support, you may reach out on https://twitter.com/BinanceHelpDesk. Any changes or updates will be communicated promptly via our official channels.
Thank you
Binance
#BTC #binanceIndia #BinanceSquare #SAFU🙏
🚀🇮🇳 Exciting News for Indian Users: Binance is Coming Back! 🇮🇳🚀
🔥🔥🔥🔥
👉 After much anticipation, #BinanceMiracles is gearing up to make its return to India!
💰 To facilitate this comeback, Binance will pay a fine of approximately 2 million USD.
📝 Binance will operate as an entity registered with the Treasury Department’s Financial Intelligence Unit.
✅ The platform will adhere to all applicable laws, including the Prevention of Money Laundering Act and the VDA tax framework.
Get ready for a new era of crypto accessibility and compliance in India with Binance! 🎉🚀
#binanceIndia #BullorBear
🔥🔥🔥🔥
👉 After much anticipation, #BinanceMiracles is gearing up to make its return to India!
💰 To facilitate this comeback, Binance will pay a fine of approximately 2 million USD.
📝 Binance will operate as an entity registered with the Treasury Department’s Financial Intelligence Unit.
✅ The platform will adhere to all applicable laws, including the Prevention of Money Laundering Act and the VDA tax framework.
Get ready for a new era of crypto accessibility and compliance in India with Binance! 🎉🚀
#binanceIndia #BullorBear
🚨BINANCE INDIA🚨
👉You can Update existing #Binance app.
✨When you click Update App Now.
#binance #binanceIndia #BinanceSquareUpdates
#binancenews
👉You can Update existing #Binance app.
✨When you click Update App Now.
#binance #binanceIndia #BinanceSquareUpdates
#binancenews
